DTB Advises IFC in EUR 75 Million Bond Investment

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DTB provided Croatian-based legal advice to International Finance Corporation (IFC), a member of the World Bank Group and the largest global development institution focused on the private sector in emerging markets, with respect to IFC's investment aimed at increasing access to green housing loans and boosting climate finance in Croatia.

Namely, IFC is investing €75 million in bonds issued by Erste&Steiermärkische Bank to support the bank's housing portfolio, including green housing loans.

According to client's announcement, IFC's support will allow the bank to finance mortgage borrowers in the country, with 40 percent of the proceeds earmarked for green housing loans. IFC's financing package will further enhance the resilience of the financial sector and promote a dynamic domestic corporate bond market by increasing the diversity in instruments offered by Croatian entities.

Under this exciting engagement, IFC was advised by DTB’s banking and finance team which included partner Martina Kalamiza Grozdek and trainee Lorena Mičik.